Vaibhav Tambe: A “People’s CEO” Shaping the Future of Transactional Banking

Most Promising Banking Automation Solution Providers 2024

The Banking, Financial Services, and Insurance (BFSI) sector faces numerous challenges in today’s dynamic market. Regulatory compliance, cybersecurity threats, technological advancements, and the need for constant innovation are just a few of the hurdles that organizations face. Successful leaders in this field are the ones who can tackle these challenges and develop strategies to address them. These leaders possess a unique blend of technical prowess, strategic vision, and a commitment to enabling growth and stability.

One such leader is Vaibhav Tambe, the Co-founder and CEO of TransBnk—a pioneering transaction banking platform in India. With over 17 years of extensive experience in the BFSI, Vaibhav has spearheaded the growth of one of the country’s fastest-growing transactional banking companies.

“His vision is to transform India’s transactional banking landscape through innovative and secure solutions.”

Known as a “people’s CEO,” he ensures his team has the resources and support they need to thrive. His approach promotes effectual culture and drives the company toward achieving its objectives. His dedication to innovation, security, and team growth sets a benchmark for excellence in transactional banking, making him a formidable force in the industry.

To encourage and celebrate such an approach and dedication to a better future, we, The Enterprise World Magazine, are honored to present the trailblazing story of Mr Vaibhav Tambe as “The Most Inspiring Leaders To Watch In 2024.” In a candid interview with us – Mr Vaibhav shared his secret recipes for overcoming the biggest challenges he faced throughout his career and many more.

Corporate Connect: Please highlight your professional journey.

Mr Vaibhav Tambe: I bring nearly 17 years of industry experience, which I earned through rough and tough journeys. I started my career with TCS as a Software Developer, and after my MBA, I started with SBI in the Transaction Banking segment. Right from product development and business development to various operational aspects, I got to learn a lot. My next move was with IndusInd Bank into their Transaction Banking sales department, where I grew to the post of leading—Payments, CMS, and Escrow Sales for all large & institutional businesses. During this stint, I managed a team of nearly 50 people and books worth around ₹400 crore.

As a team, we worked on the entire stack of payments, including B2B payments, corporate banking, and some aspects of investment banking. I gained extensive knowledge of global remittance, product and core business domains, various regulatory aspects as well as solidified relationships.

These helped win several international awards for many clients like Bajaj Finance, Aditya Birla Capital, Vodafone, and others. I was offered to join a listed fintech company as its payments CEO. After some time, I realized my calling and started my own transaction banking company, TransBnk, with my co-founders.

Our client journey has been thrilling so far, and we are looking at building a bigger team and expanding globally.

Corporate Connect: What have been your three biggest lessons?

Mr Vaibhav Tambe: The essential aspect of any organization or business is its people, whether it’s our team, vendors, or customers. I give importance to the relationship and priorities of the individual. No amount of money or rewards can motivate an employee more than compassion and trust. The second is core domain knowledge. Without it, it is impossible to build a large, sustainable business. We regularly upskill ourselves through various training courses.

Last but not least, you must be willing to take calculated risks because there is no brand without risk. Banking is a risky business where each step should be accessed, and risks should be quantified to mitigate them. Without taking a risk, plunging to the next peak is impossible.

Corporate Connect: Banking is all about trust. How do you build it among your stakeholders and align the digital experience safely and securely?

Mr Vaibhav Tambe: That is the reason we are building our business. It is digital and compliant with regulatory norms, and it has a secured layer of corporate transaction banking. This is the vision statement for our business. We predominantly focus on digitizing every aspect of the banking business for a smoother and safer transaction while reducing the TAT. This helps us build a robust business model that can be replicated according to the needs of our customers. I and my co-founders use our experience in transactional banking to establish a robust foundation for addressing any issues and ensuring the security of the process.

Corporate Connect: What are the various types of risks you see within the transaction banking space?

Mr Vaibhav Tambe: There are three types of broader risks associated with transactional banking – financial market linked to the macroeconomic system, operational, and credit risk. We use a combination of technology stacks, including AI, blockchain, and a combination of Web2 and Web3. These add layers of security and safety features to our solutions.

Corporate Connect: What is the biggest challenge you foresee, and how are you mitigating it?

Mr Vaibhav Tambe: As I said before, keeping people motivated and aligned with the company’s vision is the biggest challenge for any organization today. At TransBnk, we try to power the ecosystem by adding more qualified and competent people.

While other organizations are firing their talented people, we took advantage of the situation, hiring the brightest minds to build TransBnk. We have raised a significant amount of money for this. We leverage technology to create an environment to help them grow within the organization. We are honest and transparent while interacting with our employees, giving them complete freedom to experiment and learn. As an organization, we are aligned with our employees’ goals.

Another challenge I observed within the industry is complying with the regulatory grey areas, which most fintechs and startups fail to do. Hence, many of them vanish into oblivion. However, we comply with every regulatory change to ensure we abide by the law.

Corporate Connect: What is your future roadmap?

Mr Vaibhav Tambe: We are looking at new use cases around supply chain finance, trade finance, or cross-border remittances. We will also soon expand geographically, especially to the Middle East, Southeast Asia, the UK, and the US.

Vaibhav Tambe: A “People’s CEO” Shaping the Future of Transactional Banking